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Answer Posted / bichitra
Profit & loss account is pepare for find out the net
profit/Loss for the period whereas Balance sheet is pepared
for find out the financial position of business on a
spesific date
Profit & loss account is pepared by taking closeing
balances from nominal account whereas balance sheet is
prepare only takeing balances of other than nominal account
like personal & real.
| Is This Answer Correct ? | 49 Yes | 7 No |
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